Territorial location has been a criterion for the development of an industry. In this regard, the formation of a single economic space between enterprises (organizations) of various forms of incorporation can be considered as an instrument for leveling the unevenness of economic development, which has been proved as a successful clustering practice. This efficient integration has transformed clustering into a national priority on a global scale. The constant decline in the growth rate of world GDP is being discussed, and measures are suggested to solve this problem through the formation of efficient spatial relationships, the creation of which is a condition for expanding the number of "locomotives" of growth that carry out intensive exchange of production factors. Clustering has been the result of efforts to achieve competitiveness for quite a long time. Further economic development is impossible without the development and the implementation of a new clustering model involving an increase in the level of cohesiveness of the monetary policy and the clustering strategy. A practical tool for transforming the economic space is the formation of clusters, the distribution of which allows achieving a synergic effect ensuring the growth of performance of economic entities in the region, which implies a change in the design of the monetary policy. In this study, a hypothesis about the existence of a significant relationship between the costs of creating and implementing innovations and the volume of innovative products received has been put forward and confirmed, which is the rationale for monetary support for competitiveness.

Innovative clusters are capable of producing innovative activities, using other (non-financial) factors of growth, namely, intellectual potential (equity) created in these territories that strengthen innovative activity in the territory of clusters in regions. The extent of influence of innovative development on regional economy is revealed through indicators of costs for technological innovations and the amount of shipped products. We discovered that the high ratio of correlation 0.91 shows a direct link between these indicators. This indicates the necessity of continuing to make investments in innovations that will entail growth of the shipped products. The products will be reflected in such indicators the gross regional product, value added, receipts in the budget and other indicators. Correlation and regression analysis also confirm the interrelationship of the researched factors which has practical applications for public authorities and local self-government in case of acceptance of management decisions.

This paper investigates the level of impact of higher education on economic development, how it can help people to increase their personal income, the ways to improve the allocation of human resources, the manner of transferring knowledge and skills to other members of the society, the synergistic effect of cooperation on the basis of getting new knowledge and skills, the effect of cultural influence on lawabiding behaviour, and the impact of the development the creative abilities based on deeper comprehension of cultural achievements. The authors established that state participation in the organization and financing the education, educational service and market regulation contributes to the improvement of the positive externalities of educational impact on society. This activity of the state is confirmed by the growth of investment into human capital and the gross domestic product (GDP) in Russia from 2000-2016.

This article presents a model of the corporate management system within the framework of the cluster approach, developed by the example of production enterprises of the Lipetsk region. The article analyzes theoretical approaches to defining the essence and content of the concept of cluster and analyzes the main participants of a territorial-production cluster by the example of the Lipetsk region. The cluster approach to forming the company's corporate strategies assumes the realization of a way of creating and developing cluster formations in the region with the purpose of increasing the value of the company participating in the cluster. The article presents an algorithm for selecting the method of implementation of the corporate management system in creating company value.